Advanced Persistent Threats Market size is projected to undergo significant expansion from 2021 to 2027. This growth is largely attributed to the increasing number of security breaches and cyberattacks in recent years, especially since the beginning of the COVID-19 pandemic. With enterprises and businesses rapidly switching to remote operations, criminals are taking advantage of the increased security vulnerabilities.
The International Criminal Police Organization (Interpol) reports that the target cybercriminals have shifted their target from individuals and small businesses to major corporations and government organizations. Moreover, since COVID-19, the occurrence of malware/ransomware attacks has surged by more than 36%, as per Interpol.
Increasing digitalization and cloud migration and the subsequent rise in data generated also creates a lucrative outlook for the advanced persistent threats market during the forecast period. Cyberattacks not only hamper the productivity of businesses but also damage critical IT infrastructure and data of organizations. The rise in digital transactions across industries is also leading to the increase in frequency of cybercrimes. Strict government measures to boost cybersecurity and data protection will certainly augment APT adoption.
The different types of advanced persistent threat solutions include endpoint protection, sandboxing, IDS/IPS, SIEM, and next-generation firewall. Among these, the market will witness increasing acceptance of sandboxing solutions in the future. Sandboxing is used to prevent threats from getting onto the network. It keeps the code regulated to a test environment so that it does not damage to the host machine or operating system. Cisco DevNet, Fortinet Sandbox, and Intel DevCloud are some of the popular examples of sandboxing solutions.
Europe advanced persistent threats (APT) market is estimated to grow substantially through 2027 powered by the increased number of cyberthreats. In June 2021, the European Union Agency for Cybersecurity (ENISA) reported that the number of malicious attacks against critical sectors had more than doubled in 2020. In addition, ENISA reported over 47% rise in cyberattacks on hospitals and healthcare networks since COVID-19. In August, the agency warned of increasing supply chain attacks in 2021 as APT actors employ more sophisticated methods of attack. As a result, SMEs as well as large enterprises in the region are looking to bolster security against cyber risks, which will further fuel the usage of APT protection considerably.
Cisco, Forcepoint, Symantec, Intel Security (McAfee), BAE Systems Applied Intelligence, Fire Eye, Fortinet, Kaspersky Lab, Webroot, Inc., Barracuda Networks, Sophos, Trend Micro, and Palo Alto Networks are among the notable players in the market. As the risk of cyberattacks continues to surge with the uptick in teleworking, the companies are poised to showcase promising opportunities in the future.
As businesses and organizations across the world switched to work-from-home practices, an exponential surge in new cybercrimes has been observed owing to potential vulnerabilities of remote devices and bandwidth security. According to McAfee Labs, COVID-19-themed attacks on the remote workforce increased by more than 605% in Q2, 240% in Q3, and 114% Q4 2020.
Due to this, the respective governments and regulatory authorities are making efforts to promote the adoption of reliable cybersecurity practices among both private and public organizations. These factors along with the rise in teleworking, internet penetration, and BYOD trend will create positive opportunities for the advanced persistent threats market.